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Everything you should understand before becoming a validator.
The Exohood validator launchpad will help you become a validator, so you can play an active part in Exohood's future. Validators are key to the more secure, scalable, and sustainable protocol and bridge we're building together.
By running a validator, you'll be responsible for securing the bridge and receiving continuous payouts for actions that help the bridge reach consensus.
The ExoBridge is a separate contract that uses a multichain-proof-of-stake (MuPoS) consensus mechanism.
Validating in Exohood multichain isn't the same as mining. The outcomes are similar: the work you do will extend and secure the communications an validations in the chains. But the process is completely different because they use different consensus mechanisms.
Becoming a validator is a big responsibility with important preparation steps. Only start the deposit process when you're ready.
1. Learn about your responsibilities and risk
The Exohood upgrades will only be successful if validators understand the risks and responsibilities.
2. Practice on a testnet
We strongly recommend you go through the entire process on a testnet first to get comfortable before risking real EXO.
3. Avoid phishing
Make sure you're aware of how to avoid phishing attacks. We've prepared a list of things to look out for.
Once you're comfortable and understand the risk, you'll go through select the validator process and depositing your EXO.
5. Wait to become active
Once set up the preferences, your validator won't become active straight away. Use this time to complete the checklist and get some extra practice on a testnet.
6. After depositing
Protect your funds using monitoring, and learn how to handle different real world scenarios.
Note: The Exohood's protocol upgrade brings multichain-proof-of-stake consensus to Exohood. For this, we need active participants known as validators. In exchange, honest validators receive financial rewards. Most importantly, as a validator you'll need to post EXO as collateral in other words, have some funds at stake. The only way to become a validator is to make a one-way EXO transaction to the deposit contract on the current Validator contract available on Ethereum and Polygon.
Last modified 1yr ago